Determine the cost of the land, based upon the following data:
Definitions:
Inventory
Raw materials, work-in-process products, and finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.
Corporate Organization
The structured arrangement of roles, responsibilities, and relationships within a corporation to facilitate management and operations.
Transfer of Ownership
The act of conveying property or title from one person or entity to another.
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